technocritEuropean banks to launch euro stablecoin in bid to counter US dominance
Why? Is so dumb.
The market can stay irrational with various crypto currencies longer than you can stay solvent, so you fight irrationality with your own brand of irrationality.
BarbarianThis is even dumber when you consider we’re ~2 years away from the launch of the Digital Euro. As easy and fast to transfer as a cryptocoin with none of the drawbacks. No Blockchain nonsense, backed by banks, transactions can be cancelled and refunded just like any digital transaction, and standardized to all EU banks.
This just sounds like a regular bank transfer to another European bank…input recipient in your self-service online banking and press “transfer”…beep boop done.
The digital euro will be centralized on the European Central Bank, so the transactions do not depend on some local banks. It’s in direct competition with the banks themselves. But yeah, not that big a difference for the end user imho
exuBut a central bank shouldn’t be in competition with its customers, the other banks. That’s massively stupid
It is. That’s why banks have publicly backed Wero in favor of the digital euro. It might also be a reason for the relatively low limits of the digital euro wallets, but that’s just my speculation.
Well honestly I’m not quite sure I would not welcome the removal of some of the influence the banking sector has on us all. It is very predatory in nature all the lending and such. Additionally money is a limited resource so it is maybe not the worse thing to « nationalise »